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Zhejiang Sanhua Intelligent Controls Looks to Repurchase Up to 400 Million Yuan of Shares

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Zhejiang Sanhua Intelligent Controls (SHE:002050) plans to buy back between 200 million yuan and 400 million yuan of shares at 60 yuan apiece, according to a Tuesday disclosure to the Shenzhen Stock Exchange.

The automotive, refrigeration, and air-conditioning electrical parts manufacturer could purchase between 3.3 million and 6.7 million shares.

The shares will be used for the company's employee incentive scheme within 36 months. Failure to use the shares for the share reward scheme will result in the cancellation of the shares.

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